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SFO recovers £4.4m from corrupt diplomats in ‘Chad Oil’ share deal

The Serious Fraud Office announced that it is set to recover millions lost in a corruption case concerning bribes that Griffiths Energy paid to Chadian diplomats in the United States and Canada.

Securing exclusive contracts with corrupt deals, Griffiths Energy bribed Chadian diplomats with discounted shares deals and “consultancy fees” using a front company “Chad Oil,” which was set up just five days before agreements were signed. Chad Oil was a vehicle used by senior diplomats at the Chadian Embassy to the United States to facilitate a deal in which the wife of the former Deputy Chief, Ikram Saleh, purchased 800,000 shares at less than 0.001$CAD each, later selling them for significant profit.

Griffiths later self-reported these and other transactions as bribes intended to illegally secure commercial interests in Chad and pleaded guilty to corruption...

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